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Shopping for Jewelry this Holiday? 5 Insider Tips from National Jewelry Buyers

Holiday Shopping for Jewelry: 5 Tips to Save Money (Graphic: Business Wire)


The holiday shopping season is back, and retailers are once again screaming bloody sale! While the usual “50% off” signs are out in full force, this year feels wackier than most. How about a “Pre-Black Friday Sale” that took place a full three weeks before Black Friday even arrived?

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The jewelry industry, in particular, goes extra sale-crazy during the holidays. “Strong holidays are critical for the jewelry industry,” explains Romie Salem of National Jewelry Buyers, a leading gold buyer in Albuquerque. “Holiday sales account for a third of many jewelry stores’ annual sales.”

While Salem agrees there are some great holiday promotions, he insists there is a smarter way to shop for jewelry. “Focus less on the type of sale or event, and instead, shop at particular businesses,” he says. “50% off is meaningless if the original price is outrageous to begin with.”

Salem stops short of criticizing any particular brands, but suggests that big box jewelry retailers will rarely be the best place to shop. “They have huge overhead expenses and must charge higher prices to stay in business.”

“Instead,” Salem smiles, “you can get similar jewelry for much less than those ‘50% off’ sale prices.” He explains that it is all about WHERE to shop. Salem and his National Jewelry Buyers staff share five tips for getting the best value when buying gold and diamond jewelry:

  1. Avoid Big-Box Retailers. “It’s not that they are evil. Their business models involve high payroll, advertising, rents, and other expenses that must be accounted for in their prices,” explains Sheda Salem, National Jewelry’s senior gold buyer. “It’s simple math.”
  2. Shop Local Pawn Shops & Gold Buyers. “Smart shoppers and jewelry business insiders won’t buy jewelry from anywhere else!” exclaims Sheda. “Pawn shops can sell jewelry for less than it costs to manufacture in many cases.”
  3. Shop Specialty Retailers. “For customized engagement rings and wedding bands, places like Acredo offer great value. For GIA-certified loose diamonds, visit Blue Nile. Both companies’ business models allow them to sell at prices considerably less than other retailers,” says Gada Kalaf, a part-time gold buyer and college student.
  4. Shop Online Marketplaces. Salem explains that Amazon and eBay can be excellent places to shop, but vigilance is required. Be sure to read the product details carefully and ask the seller for clarification if you’re unsure about something. Always make sure the seller offers a full money-back guarantee.
  5. Avoid Tourist-Traps. “Obviously, popular vacation spots and expensive resorts aren’t the best places for value. Those irresistible diamond earrings from Aspen may keep the memories of that ski trip alive—but those memories will cost you extra!” laughs Sheda.

For more information on buying or selling gold jewelry, visit nationaljb.com.

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